Speculative
This query is : Resolved
12 November 2009
Respected All,
Is profit or loss on currency derivative speculative income or business income.
As per Section 43(5)(d), trading in derivatives shall not be deemed to be speculative transaction.
Regards,
Jyoti
Is profit or loss on currency derivative speculative income or business income.
As per Section 43(5)(d), trading in derivatives shall not be deemed to be speculative transaction.
Regards,
Jyoti
12 November 2009
I think profit or loss on currency derivative is speculative income or business income, its depand on sistuation. if trading in derivatives is do regular basis then it is a speculative business income.if not then ihs treats as speculative income which includs other sources.
13 November 2009
Thank you for the reply.
But Section 43(5)(d) has been inserted to specifically treat TRADING IN DERIVATIVES as non-speculative income.
My question is if currency derivative also included in the definition of derivatives above.
But Section 43(5)(d) has been inserted to specifically treat TRADING IN DERIVATIVES as non-speculative income.
My question is if currency derivative also included in the definition of derivatives above.
13 November 2009
it is business income only.
13 November 2009
Derivative income(regular basis) considered as Business income.
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